Gas prices slide below $3.50 a gallon

Wednesday, Oct. 1, 2008 | 7:53 a.m.

Sun archives

Gas prices lower after biggest one-day jump in oil (9-23-08)

Beyond the Sun

AAA: Nevada average gas prices

Gas prices across the Las Vegas Valley have dropped to levels not seen in about six months.

The average price of a gallon of regular unleaded gas stood at $3.48 this morning, auto club AAA reported. That's down from $3.49 on Tuesday and a drop of about 20 cents from a month ago.

Gas prices statewide averaged $3.547 a gallon today -- a price not seen since late March and early April. Prices have decreased steadily since the summer after the average price per gallon peaked at $4.279 in Las Vegas on June 21.

Drivers in the valley were shelling out about $2.757 a gallon a year ago.

Nevadans still are paying less than the national average, which was $3.619 this morning. According to AAA, residents of 35 states are paying more than motorists in Nevada. The nation's cheapest gas today is in New Jersey, at $3.34 a gallon.

Crude oil has fallen about $25, or 20 percent, in the last seven days to about $99 a barrel after peaking near $147 a barrel this past summer. Oil prices fell again today as fears of falling demand for oil and gasoline trumped expectations that lawmakers will pass a revised bank bailout plan rejected Monday.

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By KDR81

Oct. 1, 2008

10:12 a.m.

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I hope the Las Vegas Sun editors write the speculators and oil execs a thank you letter since they stopped being greedy and started lowering prices.
By azsk8fan

Oct. 1, 2008

11:06 a.m.

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And then gas stations like Chevron started cutting hours and hiding their sweet-n-low behind the check-out counter so people buying coffee couldn't 'steal' it.......... when will this madness end?
By azsk8fan

Oct. 1, 2008

11:14 a.m.

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It just strengthens my belief that the gas stations were making a killing off their customers with the higher gas prices - when they could no longer justify those prices they had to find another way to keep making big bucks so they cut their employees hours -
By neiman1

Oct. 1, 2008

1:33 p.m.

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Wait for the Obama energy tax. A 20% tax on carbon will cause gasoline to go up 60 cents a gallon without oil going up. Why do they play these games. Why did Obama and Reid try to earmark 20% of any of the 700 Billion dollars for ACORN, Obama's former employer? If any asset made a profit, even if the entire plan lost, ACORN was to get 20% of the recovery. This was nothing but attempted theft. The democrats way.
By redferret

Oct. 1, 2008

2:14 p.m.

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Nice generalization neiman. Why don't you ask your ethics questions to the following republicans who are/were in congress: Larry Craig (oh yeah that was TP on the ground), Mark Folley (because congressional pages were asking for it, and don't forget other republicans knew about him), Tom "The Hammer" Delay, and the only sitting member of the Senate who's been censored... John McCain.
Get over it, and start plugging FOR your candidate instead of against the other guy.

ps-most people don't vote against a candidate, but for a candidate.